Maldives President launches UPI payment service to boost economy

Daily Current Affairs / Maldives President launches UPI payment service to boost economy

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Category : Business and economics Published on: October 23 2024

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Maldives President Mohamed Muizzu has taken "necessary steps" to introduce India's Unified Payments Interface (UPI) in the archipelago nation, slated to benefit the Maldivian economy substantially.
Developed by the National Payments Corporation of India (NPCI), UPI is an instant real-time payment system for facilitating inter-bank transactions through mobile phones.